Net profit in October-December quarter at Rs 717.28 crore was 23.48 per cent higher than Rs 580.87 crore in the same period a year-ago, OIL Chairman and Managing Director N M Borah told reporters here.
OIL got US$ 58.78 per barrel for the crude oil it produced in the third quarter after paying a fuel subsidy of US$ 15.11 per barrel. The company had in the year-ago period realised USD 37.48 per barrel after paying the fuel subsidy of US$ 16.79 per barrel.
Borah said, the company’s fuel subsidy outgo had declined by about 11 per cent to Rs 467.62 crore in the third quarter against a pay out of Rs 524.84 crore in the third quarter of previous fiscal.
Turnover rose 44.55 per cent to Rs 2,084.44 crore in the third quarter.
Published 30 January 2010, 15:43 IST